Cancel 2 cards at once?

Old Nov 23, 20, 10:50 am
  #1  
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Cancel 2 cards at once?

Just cancelled one card that we never used, had a low credit limit, and was just taking up space in wallet. Have another in a similar situation - really will never, ever use it again. Low credit limit. What we have left are all cards we want and all have high credit limits, about 7 total, which is plenty. Credit score consistently about 825. Total credit limit on all remaining cards over $125K, use a mere fraction (2-3% a month).

Do we rip off the bandaid and get rid of both cards at the same time? Any reason to wait and cancel the second one down the road (how far down the road)?
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Old Nov 23, 20, 11:36 am
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One assumes these two cards do not have yearly fee, correct?
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Old Nov 23, 20, 11:43 am
  #3  
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The first one did (which we did not want to pay), the second one I'm considering cancelling does not.
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Old Nov 24, 20, 7:56 am
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My usual preference is to keep the line of credits open, and unused to reduce my overall credit utilization. If I were you, I'd downgrade the one with the fee to fee free version to keep the line.

I would consider cancelling if perhaps in a couple of years, I'd resign up to get the sign-on bonus.
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Old Nov 24, 20, 9:04 am
  #5  
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Originally Posted by flyerdesire View Post
My usual preference is to keep the line of credits open, and unused to reduce my overall credit utilization. If I were you, I'd downgrade the one with the fee to fee free version to keep the line.
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Originally Posted by Eujeanie View Post
The first one did (which we did not want to pay), the second one I'm considering cancelling does not.
The card with the fee was already CXed.
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